Credit Unions Chartered In The State Of Michigan

Organization Overview

Credit Unions Chartered In The State Of Michigan is located in Auburn Hills, MI. The organization was established in 1956. As of 12/2023, Credit Unions Chartered In The State Of Michigan employed 147 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions Chartered In The State Of Michigan is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2023, Credit Unions Chartered In The State Of Michigan generated $24.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $22.6m during the year ending 12/2023. While expenses have increased by 7.6% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

WE ARE COMMITTED TO BEING A LEADING COMMUNITY-FOCUSED CREDIT UNION THAT IS THE CORNERSTONE TO HELPING MEMBERS ACHIEVE THEIR FINANCIAL GOALS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SERVICE OVER $344 MILLION IN LOANS TO MEMBERS AS OF DECEMBER 31, 2023.


PROVIDE DEPOSIT SERVICES TO OVER 24,000 MEMBERS. MEMBER DEPOSITS APPROXIMATED $313 MILLION AS OF DECEMBER 31, 2023.


ESTABLISHED 1,575 NEW MEMBERSHIPS IN 2023.


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Board, Officers & Key Employees

Name (title)Compensation
Leo Moses
Chairperson
$0
Chris Baker
Treasurer
$0
Timothy Mcglinchey
Vice Chairperson
$0
Timothy Green
Secretary
$0
John Else II
Director
$0
David Woodward
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Ronnisch Construction Group
Construction
$832,833
Jack Henry And Associates Inc
Core Processing System
$763,420
Diebold
Atm Servicing & Replacements
$601,420
Marquis Software Solutions Inc
Customer Management
$255,363
Sues Landscaping
Landscaping
$256,975
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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$23,373,963
Investment income $1,476,706
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $24,864,783

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